Bitcoin Forum

The few people here who are spreading FUD (like the guy who is preaching $30 BTC) are just people who don't currently hold any Bitcoin and are waiting for their wire transfers to clear. They don't want the price to go up before their transfers clear because they want to buy coin before the ascent that they know is coming due to the recent Winklevoss press.

THIS MEANS THEY ARE REALLY BULLS - they believe the price will rise and want to buy in. A true bear wouldn't have to spread bearish propaganda; all they have to do is sell and leave - no need to convince anyone else.

Sure, one could accuse me of the exact opposite, but in that case it wouldn't be logical, because I don't have to wait for a wire to clear to sell BTC. If I were really bearish I would just sell immediately (or not buy in the first place).

Yup. They want to buy lower and sell higher....more like profit-deers.

You could call them long-term bulls, short-term bears.

Most of the "bears" here really do "believe" in bitcoin, i.e. think it may succeed (or at least the concept of cryptocurrencies will succeed,) think it has revolutionary application, etc.

However, their beef is that it is "rising too fast."

They do have a point that the current EXCHANGE infrastructure cannot support the massive number of investors trading during a beyond-exponential increase in price.

But in the long term we are all bulls, at least most of us. I'm sure there are plenty of people that think bitcoin will crash and burn, but most of those people don't join bitcointalk.org, because, well, what would be the purpose of that.

What Ashley said.

Another bearish-sounding bite I hear is "bitcoin is overvalued, its practical intrinsic value based on the market and infrastructure as they stand right now is surely not more than $40". Actually, I kind of accept that as being true, but to me it seems true in the way that gold is intrinsically not worth more than about $50 to $100 per troy ounce. Speculative value is normal and part and parcel of any freely-traded commodity.

I think the real blue-market OTC BTC price is higher than the Gox spot rate, and even if $200+ right now is (was) bubbleish, it's far less absurd than $30 was in 2011.

If nothing spectacular goes wrong, I'm not afraid of lower bitcoin prices anyway: they're a buying opportunity, darnit! :)

That is partly correct, yes.

Although the whole thing is so hilarious that it would keep me even if I were to think that Bitcoin is genuinely worthless.

That's a backlog.. 28000 customers. You're not thinkig they are gonna process all at once right?

Some will loose interest in Mtgox
Some will put BTC to sell
Some will put USD to buy.

For me is not a bullish/bearish indicator. Meanwhile the price is going down. And let me ask.. How many people BUY BUY BUY? If they see that price is going down they'll wait.

At the current wedge to 93? I'm scooping up as much as I can.

I think you're spreading bullish propaganda, saw many of your posts with uber-bearish sentiments. But I might be wrong abnd you might be correct, in which case I'll present you my apologies. Cause I'm not ashamed to do that.

He 'switched' a while ago.

BULLS ARE BEARS IN BULL CLOTHING ACTING LIKE BEARS PRETENDING TO BE BULLS

seriously, this is silly. even if you are a 'long-term bull' and you're waiting to enter at a lower price, it means you think you will be able to enter at a lower price. if you believe bitcoin is presently overvalued, and you believe others believe this as well, then you believe that the price is going down.

therefore being a bear is simply believing that bitcoins are overvalued. it's not complicated.

I'd like to add something here:

Most of the Bulls in these forums are really short term bulls/long term bears, most of them have zero interest in cryptocurrencies and simply see it as an investment vehicle. They are the only ones really depending on the maximum profit over a short time period, and as such are promoting the cargo cult, which has taken over bitcoin.

If that were true I would just sell right now and be done with it. You don't need to wait for a wire to clear to sell BTC, only to buy BTC.

categorizing  individual traders as either bullish or bearish is a dead end. Judging the market sentiment in general that way is valid. Speculating if you are most bullish or bearish is really just a symptom of your own doubts about being on the wrong side of the price!

There are some cultural differences:

Americans can't resist bull markets, the mere thought that they are missing out on something the next guy maybe know makes them jump right in.

Europeans are more careful and need lot of different long term indicators before buying in, they are on the other hand more faithful and stick longer to their bids than Americans.

Asian traders have some elements of both US and EU traders with some added woodoo. They have a fixation on numbers; dates last year certain price jumps and dragons and rats.

So yes a lot of americans, compared to other nationalities, are getting verified, that's bullish. Europe are cracking down on off shore accounts so European traders are considering cashing out and come clean with the tax man or withdrawing BTC, slightly bearish in my opinion. Cyprus is not considered anything that can happen in other EU countries over here. I think Europeans are naive in that respect!

^^ THIS

I'm not ashamed to say i'm here only to profit from the rally like 80-90% of the newcomers.i got burnt coming up a bit late in the game.
Still i believe this week will turn into rally..Back to profits i hope!!!